Annuities are a popular retirement option among millennials despite legislative changes, which caused older people to turn away from the products, according to a recent survey.
Research by Legg Mason Global Asset Management found most UK millennials intend to include annuities in their retirement strategies while older savers plan to eschew them. The survey asked about 300 UK investors with at least $200,000 investable assets in December and January. It found 84% of UK millennials said they were 'highly likely' to consider using an annuity as part of their retirement despite being under no obligation to do so. In contrast, 72% of investors aged 40 or over said they did not intend to buy one. Government reforms coming into effect last April gave direct ...
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